Exercise of Underwriters' Option, Acquisitions, Divestiture, and Financial
Results - Research Report on Constellium, Chart Industries, ATI, Reliance, and
Carpenter Technology
Editor Note: For more information about this release, please scroll to bottom.
PR Newswire
NEW YORK, November 13, 2013
NEW YORK, November 13, 2013 /PRNewswire/ --
Today, Analysts' Corner announced new research reports highlighting
Constellium N.V. (NYSE: CSTM), Chart Industries Inc. (NASDAQ: GTLS), Allegheny
Technologies Inc. (NYSE: ATI), Reliance Steel & Aluminum Co. (NYSE: RS), and
Carpenter Technology Corp. (NYSE: CRS). Today's readers may access these
reports free of charge - including full price targets, industry analysis and
analyst ratings - via the links below.
Constellium N.V.Research Report
On November 11, 2013, Constellium N.V. (Constellium) announced that the
underwriters of its recently announced secondary offering have exercised their
option to purchase an additional c.2.6 million Class A Ordinary shares from an
affiliate of Rio Tinto Plc at a public offering price of $17.00 per share less
the underwriting discount. Constellium reported that the exercise of the
option brings the total number of Class A Ordinary Shares to be sold in this
offering to 20.1 million. The Full Research Report on Constellium N.V. -
including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.AnalystsCorner.com/r/full_research_report/6f81_CSTM]
--
Chart Industries Inc. Research Report
On October 31, 2013, Chart Industries Inc. (Chart Industries) announced that
it has entered into an agreement with Wuxi City Zhongbo Heat Exchanger Co.,
Ltd., to acquire the Company's brazed aluminum heat exchanger (BAHX) business.
Chart Industries reported that the acquired operations will be managed by the
Company's Energy & Chemicals segment (Chart E&C). Mike Durkin, President of
Chart E&C, stated, "These capacity expansions form an integral part of Chart
E&C's overall growth strategy." Durkin added, "They will help Chart meet
global demand for both low pressure and high pressure brazed aluminum heat
exchangers, furthering our ability to support our global customer base across
all industry sectors with market-leading delivery schedules. With new
personnel being recruited at both locations, there are benefits for the
respective local economies." The Full Research Report on Chart Industries Inc.
- including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.AnalystsCorner.com/r/full_research_report/4c7e_GTLS]
--
Allegheny Technologies Inc. Research Report
On November 4, 2013, Allegheny Technologies Inc. (ATI) announced that it has
successfully completed the divestiture of its tungsten materials business to
Kennametal Inc. for a total consideration of $605 million. The Full Research
Report on Allegheny Technologies Inc. - including full detailed breakdown,
analyst ratings and price targets - is available to download free of charge
at:
[http://www.AnalystsCorner.com/r/full_research_report/c967_ATI]
--
Reliance Steel & Aluminum Co. Research Report
On November 1, 2013, Reliance Steel & Aluminum Co. (Reliance) announced that
through its wholly-owned subsidiary, American Metals Corporation (AMC), it has
acquired all of the capital stock of Haskins Steel Co., Inc. (Haskins).
According to Reliance, Haskins will operate as a wholly-owned subsidiary of
AMC, and its current management will remain in place. David H. Hannah,
Chairman and CEO of Reliance said, "Haskins will enhance American Metals'
penetration into this geographic area where American Metals did not previously
have a physical presence." The Full Research Report on Reliance Steel &
Aluminum Co. - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
[http://www.AnalystsCorner.com/r/full_research_report/08ee_RS]
--
Carpenter Technology Corp. Research Report
On October 29, 2013, Carpenter Technology Corp. (Carpenter Technology)
released its Q1 FY 2014 results (period ended September 30, 2013). Carpenter
Technology registered net sales of $498.6 million in Q1 FY 2014, compared to
net sales of $544.9 million in Q1 FY 2013. The Company posted net income
attributable to the Company of $34.6 million or $0.65 per diluted share in Q1
FY 2014, compared to net income attributable to the Company of $39.2 million
$0.74 per diluted share in Q1 FY 2013. Commenting on the results, William A.
Wulfsohn, President and CEO of Carpenter Technology, said, "Our first quarter
earnings were in-line with our expectations. Our strong manufacturing
performance contributed significantly to our earnings. The team executed on
multiple fronts to reduce production and overhead costs. We achieved these
results while successfully performing a significant planned maintenance
overhaul on our Reading forge, positioning this critical piece of hot working
equipment to support future growth." The Full Research Report on Carpenter
Technology Corp. - including full detailed breakdown, analyst ratings and
price targets - is available to download free of charge at:
[http://www.AnalystsCorner.com/r/full_research_report/025c_CRS]
----
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